In this episode of Natural Resource Stocks, Andy sits down with Professor David B. “Dave” Collum, the Betty R. Miller Professor of Organic Chemistry at Cornell University. Collum has spent decades working on organolithium and organosodium chemistry, publishing extensively on how aggregation and solvation control reactivity in complex organic systems. Away from the lab, he’s built a reputation as a hardcore contrarian macro and markets commentator, known for long-form annual reviews and unfiltered views on geopolitics, debt, and the direction of Western institutions.
In this conversation, Collum explains why he thinks today’s equity markets may be the most dangerously overvalued in history and why investors could be staring at what he calls “dead money” for decades as valuations grind back toward long-term averages. He uses simple, brutal metaphors—like your slice of the pizza getting smaller while the price tag stays high—to show how index levels can hide ugly realities for real savers.
From there, the discussion moves into politics, censorship, and what he describes as emerging digital authoritarianism, where payment rails and platforms can be used to punish dissent. He also unloads on higher education, AI, and how real critical thinking is being replaced by conformity and credentialism.
Key topics:
- Why Collum believes current equity valuations are historically extreme
- How GDP growth vs. valuation compression can create “50 years of dead money”
- The “shrinking pizza slice” analogy for S&P investors
- Digital control grids, de-banking, and financial on/off ramps
- Universities, AI, and the collapse of real inquiry
- Political leadership, regime risk, and growing social fracture
